Multifamily
For Sale
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7102 34th Ave, Jackson Heights, NY 11372
Multifamily property near established residential, retail, and commercial activity along 34th Avenue.
Property Size4,770 SF
Price / SF$324.95
Days on Market8
Property Features for 7102 34th Ave
General Information
Standard status
Active
Size
4,770 SF
Class
B
Property subtype
Multifamily
Net Operating Income
$70,000
Additional Details
Public Transit
Yes
Building Details
Year Built
1929
Stories
3
Units
6
Listing Agency:
JMRENY
Listed By:
Joseph Maselli · License #10461206040
(516) 253-1113
Source:
Crexi
Added: Aug 31
Changed: Sep 3
Last Checked: Sep 6 at 10:48AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of JMRENY
Investment Insights
Based on property information with market context.
This multifamily property at 7102 34th Ave in Jackson Heights, NY 11372 contains 4,770 square feet and was built in 1929. The asset is positioned within a densely populated area characterized by a blend of residential, retail, and commercial uses.
The property is near the 34th Avenue retail and residential corridor, with access to public transportation, major roadways, shopping, restaurants, schools, and everyday amenities. Its Queens location places the building within an established neighborhood with active commercial surroundings and a substantial residential base.
The property is near the 34th Avenue retail and residential corridor, with access to public transportation, major roadways, shopping, restaurants, schools, and everyday amenities. Its Queens location places the building within an established neighborhood with active commercial surroundings and a substantial residential base.
Key Highlights
- 4,770‑square‑foot multifamily property
- Built in 1929
- Located at 7102 34th Ave, Jackson Heights, NY 11372
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$116,600
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,332,000
$2.3M
Cap Rate 7%
$1,665,714
$1.7M
Cap Rate 9%
$1,295,556
$1.3M
Market Conditions
NOI Build-Up for 4,770 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$220.4K $46.20/SF
− Vacancy
−$8.4K −$1.76/SF
EGI
$212.0K $44.44/SF
− OpEx
−$95.4K −$20.00/SF
NOI
$116.6K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,332,000
Cap Rate 7%
$1,665,714
Cap Rate 9%
$1,295,556
Alternative Uses
Best Use
Apartment 5plus
$1.67M
$1.46M – $1.94M
NOI $116,600 @ 7.0% cap · market cap 7.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.52M
$3.08M – $4.10M
NOI $246,155 @ 7.0% cap · market cap 15.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,650
Businesses Nearby
Explore this area
Business Placement
Demographics for 11372, NY
68,000
Population
26,613
Households
2.6
Avg Household Size
41
Median Age
35%
College-Educated
81%
High-School Grad
0.7 sq mi
ZIP Area
97,143
Density / Sq Mi
$77,133
Median Household Income
$44,415
Median Earnings
$1,795
Median Rent
$454,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property near established residential, retail, and commercial activity along 34th Avenue.
Where is this multifamily property located?
The property is located at 7102 34th Ave Jackson Heights, NY.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 4,770‑square‑foot multifamily property; Built in 1929; Located at 7102 34th Ave, Jackson Heights, NY 11372
